Examples of Tong Xxx Xxxx Group in a sentence
The Tong Xxx Xxxx Group is engaged in the processing, manufacture and sale of Chinese medicinal materials, Chinese patent medicine, Chinese medicinal decoction pieces, medical food, warehousing and transportation, etc.
The Group anticipates that it will continue to lease from Tong Xxx Xxxx Group to satisfy the future business needs of the Group from time to time.
Subject : The Renewed Master Lease Framework Agreement sets out a framework of the terms on which Xxxx Xxx Xxxx Holdings has agreed to lease and procure other members of the Tong Xxx Xxxx Group to lease certain premises to any members of the Group for the Group’s productions and operations, including but not limited to office premises, warehouses and staff quarter.
The Tong Xxx Xxxx Group is engaged in the processing, manufacturing and sale of Chinese medicinal materials, Chinese patent medicine, Chinese medicinal decoction pieces, medical food, warehousing and transportation, etc..
As at 31 December 2020, the Group had recorded an amount of HK$187,570,000 from Tong Xxx Xxxx Group which was past due.
Since the renewal of certain Existing Leases with new annual rentals and additions of certain leases of premises from 1 January 2017, in order to compliance with the GEM Listing Rules, the Company has decided to enter into the Master Lease Framework Agreement to facilitate the lease transactions between the Group and the Tong Xxx Xxxx Group.
The Directors think that entering into the Property Leasing Framework Agreement will continue the existing leases with the Tong Xxx Xxxx Group and satisfy the future business needs of the company from time to time, which is beneficial to the business development of the Group.
Although the Directors were of the view that the overdue receivables did not pose significant credit risks to the Group given the Group had implemented stringent internal control measures, the sales to certain members of Tong Xxx Xxxx Group was halted and the Group had taken various measures, including but not limited to, issuing formal demand letters and holding discussion with the management of the Tong Xxx Xxxx Group.
Accordingly, the Company and the Tong Xxx Xxxx Group have entered into the Master Lease Framework Agreement to set out a framework of the terms on which they may continue or renew the Existing Leases.
Subject: The Master Lease Framework Agreement sets out a framework of the terms on which Xxxx Xxx Xxxx Holdings has agreed to lease and procure other members of the Tong Xxx Xxxx Group to lease certain premises to any members of the Group for the Group’s productions and operations, including but not limited to office premises, warehouses and staff quarter.